Our Team

Corporate Year-End Checklist

(NOTE: Not all items apply to every corporation)
Please be kind to the environment and efficient by emailing data files and PDF documents whenever possible.

  • Your email address.
  • Please send a back-up copy of all your data for the fiscal year. Please remove the password and send us a back up copy of Quickbooks or Simply Accounting.  Small files can be emailed, larger files can be saved to a memory stick or sent using www.yousendit.com
  • If your records are manual, we need the synoptic or cheque register balanced for the current year plus the subsequent months. If your records are on Excel, please email us a copy of the file.
  • Trial Balance - Make sure retained earnings equals last year's financial statement amount.
  • List any cash or till floats on hand at year end.
  • If the bank reconciliation is done, only the year-end bank statement is required. If not we require the bank statements including the paid cheques for the year.  Please ensure your reconciled bank balance agrees to your trial balance amount.
  • Marketable securities - need a stock continuity schedule for your fiscal period (ask your broker to do) and/or all monthly securities transaction reports.
  • List of accounts receivable (customers for which work was billed prior to your year-end but not paid until after) unless this is in Quickbooks or Simply.
  • List of doubtful accounts - accounts receivable which may not be collectible, Also note what happened to the prior year's doubtfuls.
  • List of work in progress - jobs in progress at end of year but not billed until after year end. Need only cost of labor and materials for unbilled work done prior to year end.
  • List of any customer deposits for which funds are received before year end, but work not done nor billed until after year end.
  • List of inventory of items valued at lower of cost and net realizable value. Please count your inventory and provide us a list to support your total.
  • List of insurance policy amounts and dates of expiry.
  • Invoices on capital assets additions or disposals - land, buildings, automotive or equipment over $ 2,000 each.
  • List of accounts payable (amounts owed by the company to suppliers for work done prior to year end but not paid until after the year-end) unless this is in Quickbooks or Simply.
  • Also include statements for the last period in your year-end for Payroll Deductions (RP account), WCB, corporate credit cards, etc.
  • Please also bring in all your last GST/HST returns with back up.
  • Bring in your company's Notice of Assessment from each of the Federal and Provincial income tax departments and, if you are making installments, your last installment slip. Also, please bring in at least one BLANK Federal installment form.
  • Bring in all new finance contracts, loan agreements or lease agreements.
  • Note any payments made by shareholders for the company or to the company unless this is in Quickbooks or Simply.
  • List of any extraordinary items, commitments, contingencies or material subsequent events or environmental problems.
  • Copy of management payroll journals for current and prior year unless this is in Quickbooks or Simply.
  • Separate total of meals and entertainment, golf dues or fees, and any fines/penalties paid during the year unless this is in Quickbooks or Simply.
  • Are there taxable employee benefits to report - ie: personal use by shareholders/employees of company vehicles?
  • Please bring in only details of changes to your Corporate Minute Book.  Ensure we are listed as accountants, not auditors